Think Wealth, Think Mutual Funds

Mutual Funds - Features & Benefits

Eligibility

Investing in Mutual Fund holds a lot of benefits and can also help in reducing the risk by investing across diverse portfolios. With this if you are looking to apply for mutual funds, make sure you fulfil the following requirements for Mutual Fund investments through Axis Bank.

Here is the eligibility criterion for mutual funds:

The applicant needs to be an existing Axis Bank account holder
The applicant needs to be KYC Compliant
The Savings Bank Account status has to be Single or Either/Survivor
The Account Opening Application Form has to be signed by the all the Bank Account Holders

If you are an existing Axis Bank customer and haven’t opened an Investment Services Account yet, Download Forms to register.

Documentation

Make sure you have all the necessary documentation for Mutual Funds in place. As per SEBI norms, Know Your Customer (KYC) compliance is a pre-requisite for investments in Mutual Funds. Accordingly, all customers looking to invest in Mutual Funds need to fill up the Mutual Fund account application form along with Customer Risk profiler and KYC application and submit them to the nearest Axis Bank Branch.

Mutual Fund KYC Guidelines

What is KYC (Know your client)?

KYC or Know Your Customer is a customer identification process. The Securities and Exchange Board of India (SEBI) has laid down guidelines under the Prevention of Money Laundering Act 2002, which makes it binding for financial institutions and financial intermediaries like mutual funds to acquaint themselves with their customers. KYC process helps prevent money laundering and other suspicious transactions. With effect from January 1, 2012 all categories of investors irrespective of amount of investments Mutual Funds are required to comply with KYC for carrying out any transactions in Mutual Funds. Thus, all applicants investing into mutual funds would be required to be KYC compliant by any KYC Registration Agency (CAMS, KARVY, CVL, NSE or NSDL) without which the transactions may be liable to be rejected by the respective mutual fund houses.

Please note KYC norms are mandatory for ALL applicants/investors (including existing investors and joint holders) while investing with any SEBI registered Mutual Fund, irrespective of the amount of investment.

KYC status check

KYC status can be checked from any of the below mentioned KRA websites, no matter where you have submitted your KYC application form:

FATCA/CRS and Supplementary KYC Information

What is FATCA?

India has joined the Multilateral Competent Authority Agreement (MCAA) on automatic exchange of financial information. All countries which are signatories to the MCAA are obliged to exchange a wide range of financial information after collecting the same from financial institutions in their jurisdiction. The FATCA agreement enhances tax transparency and accountability in matters of financial reporting and payment of taxes which are legitimately due to various governments.

The basic purpose of FATCA is to prevent US persons from using banks and other financial institutions outside the USA to park their wealth outside US to avoid US taxation on income generated from such wealth. Alike FATCA, Indian Government has further committed to implement a Common Reporting Standard (CRS) as part of reciprocal exchange of information on financial accounts on an automatic basis with other countries.

AMFI through its circulars no. 63/2015-16 dated September 18, 2015 directed the AMCs to adhere to the following requirements from November 1, 2015:

All new investors to provide additional KYC details - Income slab, Occupation, Net worth, Politically Exposed Status, etc.,
All new non-Individual investors to provide the Ultimate Beneficial Ownership (UBO) details
All investors to submit FATCA/CRS declaration while opening account from 1st November 2015 and also for all the new accounts opened after 1st July 2014 to 31st October 2015

Similarly, from 1st January 2016 all Mutual Funds have been advised to make it mandatory for existing investors to:

Provide additional KYC details as mentioned above in order to make purchases (including Switch, STP) in their MF accounts
Non-individuals to update the Ultimate Beneficial Ownership (UBO) details in their existing accounts
All Individual and Non-individual investors to provide FATCA/CRS declaration

Online declaration of FATCA/CRS and Supplementary KYC Information
Investors can use the following online facility for declaration:

For more details visit your nearest Axis Bank branch.

Tax implications for Mutual Fund investments

Please contact your Relationship Manager for tax related queries on Mutual Fund investments. Mutual Funds are subject to market risk. Please read the offer document carefully before investing.

Partners

Axis Bank is partnered with the following AMCs to provide their schemes to all our customers.

Aditya Birla Sun Life Mutual Fund
Axis Mutual Fund
Canara Robeco Mutual Fund
DSP Mutual Fund
Edelweiss Mutual Fund
Franklin Templeton Mutual Fund
HDFC Mutual Fund
HSBC Mutual Fund
ICICI Prudential Mutual Fund
Bandhan Mutual Fund
INVESCO Mutual Fund
KOTAK Mutual Fund
LIC Mutual Fund
MIRAE Mutual Fund
MOTILAL OSWAL Mutual Fund
NIPPON Mutual Fund
SBI Mutual Fund
SUNDARAM Mutual Fund
TATA Mutual Fund
UTI Mutual Fund
WHITEOAK Capital Mutual Fund
Bajaj Mutual Fund
Mahindra Manulife Mutual Fund
360 ONE Mutual Fund
Union Mutual Fund

If you are an existing Axis Bank customer and haven’t opened an Investment Services Account yet, Download Forms to register.

Mutual Fund Commission structure

In accordance with the SEBI circular: SEBI/IMD/CIR No. 4/ 168230/09 and RBI guidelines on Marketing/Distribution of Mutual Funds, below are the details of the commission earned by Axis Bank Ltd.

Fund Schemes	Trail commission p.a.
Equity & ELSS Funds	0.10% - 1.80%
Hybrid Funds	0.35% - 1.70%
Debt and Liquid Funds	0.01% - 1.48%
Others & Solution Oriented	0.03% - 1.75%

Please click here for scheme wise commission structure.

The above rates are effective from January 1, 2025, or later. They are updated on a best-effort basis and can change without prior notice at the Bank's discretion based on the agreement with the AMCs.

Disclosure- SID/KIM/SAI

You can refer the scheme documents Scheme Information Document (SID)/ Key Information Memorandum (KIM)/ Statement of Additional Information (SAI) for the respective AMC's by clicking on the below links

Service platform to trace inactive and unclaimed Mutual Fund folio(s) - MITRA (Mutual Fund Investment Tracing and Retrieval Assistant)

SEBI has launched MITRA platform to help investors with a searchable database of inactive and unclaimed Mutual Fund folio(s). An inactive folio is defined as Mutual Fund Folio(s) where no investor initiated transaction/s (financial and non-financial) have taken place in the last 10 years but unit balance is available. In addition to locating inactive and unclaimed Mutual Fund folio(s), MITRA platform will also assist in encouraging investors to do KYC as per current norms.

To learn more about MITRA platform and how you can use it, we encourage you to go through the SEBI circular (SEBI/HO/IMD/IMD-SEC-3/P/CIR/2025/15 - dated 12th February 2025). Click here to view the same.

Terms & Conditions

Mutual Fund Investments are subject to market risk, read all scheme related documents carefully. Axis Bank Ltd is acting as an AMFI registered MF Distributor (ARN Code: ARN-0019) since 20/02/2007 and the current validity of ARN is upto 19/02/2027. Visit Axis Bank Internet/Mobile banking platforms, MF scheme details page for more information. The purchase of Mutual Funds by Axis Bank's customers is purely voluntary and not linked to availment of any other facility from the Bank.

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